DUBLIN, February 3, 2021 / PRNewswire / – Precision Medicine Market Forecast 2021-2026 report has been added to ResearchAndMarkets.com’s offering.
The precision medicine market is valued at $ 60.422 billion for 2020 the market size will grow with a CAGR of 8.79% $ 100.168 billion by 2026.
Increasing chronic diseases
The market is expected to be driven by the growth and surge of various chronic diseases such as cardiovascular disease, obesity and other related diseases. According to the World Health Organization, cardiovascular disease is a leading cause of death worldwide each year. In 2016 an approximately 17.9 million people died of cardiovascular disease. 31% of global deaths. Most of these deaths were related to various types of strokes and heart attacks. Precision drugs have rapidly evolved towards real clinical features, and various scientific and research organizations have explored different strategies for using drugs to manage chronic diseases. Alzheimer’s and other related cognitive disorders are among the most common chronic diseases that have a major impact on individuals around the world. According to the Alzheimer’s Association, approximately 5.8 million Americans have lived with this chronic disease. And according to the estimate, the number is expected to be around 14 million by 2050.
There have been various developments in cognitive disorders in this market. In recent years, scientists at the University of Buffalo discovered that a human gene present in 75% of the American population is one of the main reasons why some Alzheimer’s disease or drug fails in human studies. despite promising results in animal experiments. This is expected to be one of the factors behind the growth of precision medicine over conventional drugs. Diabetes is also one of the main reasons that should drive the growth of the precision market. The National Institute for Diabetes and Digestive and Kidney Diseases has made precision drugs and medicines a top priority for the Institute’s Diabetes Genomics and Genetics Program. The program aims to identify the intergenic regions and genes that protect against type 1 or 2 diabetes.
Other large organizations have also used precision medicine techniques and technologies to treat diabetes. Massachusetts General Hospital found that the interventions, which focused on the individual’s genetic profiles and data, could lower the risk of type 2 diabetes. The Louisiana health system performed approximately 300,000 virtual visits in 2020. The health system, also known as Ochsner Health, offers digital health programs and solutions to its patients. Over the past four years, Ochsner has made significant investments in the development of telemedicine care services and supplies for end users. Over the next decade, Ochsner will also develop telemedicine for intensive care units, psychiatry and stroke.
Precision Medicine in Cancer Treatment
Precision medicine is also known as personalized medicine because doctors choose this medicine based on a genetic understanding of the patient. The market is expected to be driven by the use of precision drugs to treat cancer. According to the World Health Organization, cancer is the second leading cause of death worldwide. An estimated 9.6 million people died of cancer in 2018. 70% of cancer deaths in low and middle income countries.
There are various infections caused by cancer like HPV, hepatitis B virus, C virus, and others. Precision medicine could be used to treat cancer because a person’s cancer problem is constantly subject to genetic changes. Scientists have worked to identify and conduct genetic tests that can be used to make decisions about how to treat a person’s cancer or tumor. in the January 2021, Researchers from the John Hopkins Kimmel Cancer Center, the John Hopkins Departments of Oncology and Pathology, and other 18 local organizations Poland and The United States, created a neck and head cancer database designed to accelerate the development and production of precision medicine therapies. With the collected database, the researchers obtained the clarification of the most important cancer-associated proteins, genes, which led to an improvement in the signaling pathway of these cancers. Precision drugs are also used in oncology as large companies have made advances in innovation and innovation.
in the January 2021Illumina, a major player in the market, announced an expanded and novel oncology partnership with Merck, Myriad Genetics, Kura Oncology and Bristol Myers Squibb to advance full and detailed genome profiling. Genetic sequencing is an integral part of precision medicine, and this partnership would lead to the advancement of novel and innovative precision medicines.
- in the December 2020Nucleai, et al Tel Aviv The startup started developing a novel artificial intelligence software for image modeling and analysis of pathology data to be used in developing more effective precision drugs. The company aims to become a major player in precision medicine in the years to come. The company had used pathology data to discover biomarkers, a novel molecule found in food or tissues, to identify the structure of the genome.
- in the January 2021Qatar Biobank announced that 17,000 people have participated in the banks’ genome program, which will be used to develop precision drugs. The program was conducted to identify mutation carriers by performing various genetic analyzes that will be used to produce precision drugs in the years to come.
- in the January 20214basecare, a precision oncology startup and advanced center for cancer treatment, research, and education, announced a collaboration agreement for an artificial intelligence-based clinical interpretation platform known as ClinOme. The data literacy generation program would be used to help oncologists with personalized options for treating cancer patients.
- in the October 2020, Scientists from the University of Glasgow announced the development of a novel precision medicine against pancreatic cancer. The team used cells grown in the laboratory and replicas of tumors from patients to find molecular markers that were used in predicting and responding to multiple drugs, targeting DNA. The researchers raised an investment of £ 10 million that was used for precision medicine development and research.
- in the October 2020, King Abdul Aziz University and the Oxford University announced an agreement to develop a novel joint international innovation center for precision medicine and artificial intelligence. Under this agreement, the novel center would bring together AI specialists to provide creative and innovative solutions for precision drug development.
Main topics covered:
1.1. Market definition
1.2. Market segmentation
2. Research methodology
2.1. Research data
3.1. Research highlights
4. Market dynamics
4.1. Market leader
4.2. Market restrictions
4.3. Porter’s Five Forces Analysis
4.3.1. Bargaining power of end users
4.3.2. Bargaining power of buyers
4.3.3. Threat from new entrants
4.3.4. Replacement threat
4.3.5. Competitive rivalry in the industry
4.4. Analysis of the industry’s value chain
5. Precision Medicine Market Analysis by Technology
5.2. Data analysis
5.4. Gene sequencing
6. Precision Medicine Market Analysis by Application
6.3. Central nervesystem
7. Precision Medicine Market Analysis by Geography
7.2. North America
7.2.1. North America Precision Medicine Market, By Technology, 2021 to 2026
7.2.2. North America Precision Medicine Market, By Application, 2021-2026
7.2.3. By country
7.3. South America
7.3.1. South American Precision Medicine Market, By Technology, 2021-2026
7.3.2. North America Precision Medicine Market, By Application, 2021-2026
7.3.3. By country
7.4.1. Europe Precision Medicine Market, By Technology, 2021 to 2026
7.4.2. Europe Precision Medicine Market, By Application, 2021-2026
7.4.3. By country
18.104.22.168.3. United Kingdom
7.5. middle East and Africa
7.5.1. middle East and Africa Precision Medicine Market, By Technology, 2021-2026
7.5.2. middle East and Africa Precision Medicine Market, by application, 2021 to 2026
7.5.3. By country
22.214.171.124. Saudi Arabia
7.6. Asia Pacific
7.6.1. Asia Pacific Precision Medicine Market, By Technology, 2021-2026
7.6.2. Asia Pacific Precision Medicine Market, By Application, 2021-2026
7.6.3. By country
126.96.36.199. South Korea
8. Competitive landscape and analysis
8.1. Main actors and strategy analysis
8.2. Emerging Players and Market Reliability
8.3. Mergers, acquisitions, agreements and collaborations
8.4. Matrix for the competitiveness of providers
9. Company profiles
9.1. Thermo Fisher Scientific Inc.
9.2. AstraZeneca plc
9.3. F. Hoffmann-La Roche Ltd.
9.4. Pfizer Inc.
9.5. Nordic Bioscience A / S.
9.7. Novartis AG
9.9. Quest Diagnostics Incorporated
9.10. Bristol Myers Squibb
Please visit https://www.researchandmarkets.com/r/8dixfx for more information on this report
Research and Markets
Laura Wood, Senior manager
For EST office hours, call + 1-917-300-0470
For US / CAN, call toll-free at 800-526-8630
For GMT office hours, call + 353-1-416-8900
US Fax: 646-607-1907
Fax (outside the US): + 353-1-481-1716
SOURCE RESEARCH and Markets